Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market closed Tuesday's trading lower on the back of negative dynamics from the oil and gas, finance and utilities sectors. The Dow Jones was down 1.36% at the close on the New York Stock Exchange.
Dow Jones 30, H4
Pivot: 34270.00
Analysis:
Provided that the index is traded below 34575.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 34270.00
- Take Profit 1: 33845.00
- Take Profit 2: 33750.00
Alternative scenario:
In case of breakout of the level 34575.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 34575.00
- Take Profit 1: 34745.00
- Take Profit 2: 35090.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
| Resistance | Support |
| 35090.00 | 34075.00 |
| 34745.00 | 33845.00 |
| 34575.00 | 33750.00 |
Dow Jones 30, D1
Pivot: 34766.00
Analysis:
While the price is above 33120.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 34766.00
- Take Profit 1: 34930.00
- Take Profit 2: 35530.00
Alternative scenario:
If the level 33120.00 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 33120.00
- Take Profit 1: 32000.00
- Take Profit 2: 30880.00
Comment:
RSI is bullish and indicates a mid-term uptrend.
Key levels:
| Resistance | Support |
| 37125.00 | 33120.00 |
| 35530.00 | 32000.00 |
| 34930.00 | 30880.00 |
